Frequently Asked Questions (FAQ)

This page is for merchants who are interested in accepting Bitcoin, Litecoin, and Dogecoin through GoCoin and have additional questions. We are constantly adding new content to this page as our customers have additional services and needs. If you don't see your question listed here, feel free to contact us through ourhelp centeror over email on ourcontact page.

Can GoCoin work with Indian Merchants?Yes! We can process Bitcoin for Indian merchants, please contact our customer support for our beta program.

Can an unincorporated business use GoCoin?Most of the time, yes. If you are not an incorporated business you can still use our service, provided that some requirements are still fulfilled. For example, A US resident that is operating under a sole proprietorship could upload a driver license and a Social Security Card instead of corporate documentation. For someone outside of the US, please contact [email protected] so we can work together and discuss what documentation you can use to be verified.

Is there a demo of the invoicing process for GoCoin?You can view how invoices work for customers at this link:Demo Invoice.

How do we know if a transaction is complete?If a transaction is complete, it will be marked "ready to ship." This means they are complete and have reached 2 confirmations on the Bitcoin network. Your servers will have received a webhook notification when "ready to ship" status is reached.

How long does it take to receive two confirmations?Each confirmation takes about 10 minutes, but it sometimes can be longer. If you would like to release funds faster, you can release them on the 'paid' webhook, instead of the "ready to ship". This occurs the second we pick up the transaction on the Bitcoin network. However, if that transaction were 'double spent' on the network, GoCoin would not be responsible, as we had not declared the transaction "ready to ship" yet.

How do I make it so I recieve fiat payouts?Visit the merchant dashboard. Make sure you have entered your wire details for your bank account. Adjust the currency sliders on the Payout Split tab to 0%.

How can I suggest a new altcoin or blockchain to add to GoCoin?Feel free toContact us.however we only aim to add currencies that have both a large community and has trading volume.

What fees can we expect for wire transfers?We do not charge wire fees ourselves so the only fees that should be incurred are the ones established by you bank. They typically range from $15-20 USD.

How do I find my Merchant_ID for integration?You can find it above the link to get an api key in the Dev tab or from thishelp guide.

Are there any restrictions on fiat payouts?We cannot do business with companies from the Balkans, Belarus, Burma, Cote D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, or Zimbabwe. There are no set restrictions on wire transfers and any that do occur are purely situational. We can distribute payouts to most banking institutions across the world provided you supply the proper information to do so.

How long does it take before GoCoin sends an order complete (ready_to_ship) webhook?This is dependent on the blockchain, and can take anywhere from a couple minutes to 30 minutes.

I have placed my order, how do I know my payment went through?In some cases there is a delay between when we have processed your payment and transferred to the merchant. So if the merchant has not updated the order status to reflect the correct information, it would be best to contact them.
When you send a payment it takes about 30 minutes to be confirmed by us and the status to change in our system.

Why is there a delay before an invoice is marked "ready_to_ship_?"This is due to the speed of the Bitcoin network confirming the payment. Once the payment has been adequately confirmed we will change the state of the invoice to ready_to_ship.

What is Merchant Review?When an invoice is labeled as Merchant Review , action must be taken to ensure the invoice is completed. A Merchant Review can be triggered by the payment being made after the invoice expires or the full amount not being paid. In these instances it is up to the merchant to decide how to proceed. You can solve these cases directly from the affected invoice in the merchant dashboard. Contact customer support if you have any additional questions.

How do we handle an overpayment?When a customer overpays an invoice, the overpaid amount is stored on your account for 90 days pending action. You may choose to refund the amount or have it passed through to you. In the even of an overpayment, contact us to help handle it.

My KYC has been denied, what now?-It is possible that your KYC has been denied to either our inability to the documents not being legible or unclear. If you are not able to submit decent quality KYC documents than we will not be able to verify your identity. Please consult with us to determine if your documents can be used.